In this weeks Domain, Nicole Lindsay warns Vendors to be realistic in their realisation estimates.
VENDORS are being warned not to pin their hopes on achieving the high prices of 2010’s boom for their properties as the market gears up for next weekend’s 1200-auction-strong super Saturday.
Auction clearance rates maintained a steady 62 per cent rate over the weekend from 695 results reported to the Real Estate Institute of Victoria.
A further 73 auctions are yet to be reported and could lower the overall rate slightly. Last weekend’s initial 62 per cent figure fell to 60 per cent after the stragglers were accounted for.